Latest revenue
$571.9M
as of 2026-03-31
Latest net income
$155.7M
as of 2026-03-31
Net margin
27.2%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $6.56B
- Enterprise value
- $6.22B
- P/E (trailing)
- 14.5×
- Forward P/E
- —
- P/B
- 3.84×
- Dividend yield
- 1.1%
- 52-wk high
- $267.76
- 52-wk low
- $104.90
- Beta
- —
- Shares out
- 47.6M
5-year trend
What this company does
Paycom sells cloud-based payroll and human capital management software that lets companies handle hiring, payroll, time tracking, and benefits in one system. It earns money mainly from recurring subscription fees tied to employee headcount, plus interest on client payroll funds it temporarily holds. Recurring revenue grew about 11% year-over-year to $1.42 billion for the nine months, and the company is aggressively buying back stock, repurchasing $263 million of shares in 2025.
Generated from PAYC's filing dated 2026-02-19
Key risks
- Operating margin compression: 9M operating income fell to $410.1M from $485.8M YoY despite revenue rising 8.5%, as G&A more than doubled to $207.8M.
- Float income exposure: interest on client funds dropped to $85.8M (from $95.9M) and client funds balance halved to $1.82B, pressuring rate-sensitive revenue.
- Earnings quality: 9M results include a $35.6M one-time gain on naming rights modification and $41.3M Q3 'other income'; core EPS weaker than headline $6.02.
Generated from PAYC's filing dated 2026-02-19
Profitability
Operating margin
27.6%
17.9%Net margin
22.1%
17.1%Return on equity
26.2%
17.8%Return on assets
6.0%
30.3%Leverage
Debt / equity
3.39×
24.6%Long-term debt / equity
0.02×
20.0%Debt / assets
77.2%
5.6%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $571.9M | +7.8% | $155.7M | +11.7% | 27.2% |
Q4 2025 2025-12-31 | $544.3M | +10.2% | $113.8M | +0.2% | 20.9% |
Q3 2025 2025-09-30 | $493.3M | +9.2% | $110.7M | +51.1% | 22.4% |
Q2 2025 2025-06-30 | $483.6M | +10.5% | $89.5M | +31.7% | 18.5% |
Q1 2025 2025-03-31 | $530.5M | +6.1% | $139.4M | -43.6% | 26.3% |
Q4 2024 2024-12-31 | $493.9M | — | $113.6M | — | 23.0% |
Q3 2024 2024-09-30 | $451.9M | +11.2% | $73.3M | -2.6% | 16.2% |
Q2 2024 2024-06-30 | $437.5M | +9.1% | $68.0M | +5.4% | 15.5% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Services-Prepackaged Software · SIC 7372
Your notes
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Insider activity
Insider buying
$0
Insider selling
$9.8M
Net activity
−$9.8M
Distinct insiders
4
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns PAYC
Institutional value
$3.02B
Total shares held
25.3M
Distinct holders
403
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 6.0M | $734.2M | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 2.4M | $290.6M | — | New |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 2.1M | $255.6M | — | New |
| 4 | BAILLIE GIFFORD & CO | 1.5M | $186.8M | — | New |
| 5 | REINHART PARTNERS, LLC. | 1.0M | $123.5M | — | New |
| 6 | FIRST TRUST ADVISORS LP | 881.9K | $107.2M | — | New |
| 7 | LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA | 769.6K | $87.4M | — | New |
| 8 | Universal- Beteiligungs- und Servicegesellschaft mbH | 657.1K | $79.9M | — | New |
| 9 | FEDERATED HERMES, INC. | 609.1K | $74.0M | — | New |
| 10 | River Road Asset Management, LLC | 539.2K | $65.5M | — | New |
| 11 | DIMENSIONAL FUND ADVISORS LP | 538.4K | $65.4M | — | New |
| 12 | UBS Group AG | 506.2K | $61.5M | — | New |
| 13 | CONFLUENCE INVESTMENT MANAGEMENT LLC | 407.7K | $49.6M | — | New |
| 14 | Boston Trust Walden Corp | 346.0K | $42.0M | — | New |
| 15 | Bank of New York Mellon Corp | 337.2K | $41.0M | — | New |
| 16 | Sather Financial Group Inc | 310.7K | $37.8M | — | New |
| 17 | VANGUARD FIDUCIARY TRUST CO | 305.3K | $37.1M | — | New |
| 18 | JANE STREET GROUP, LLC | 246.1K | $29.9M | — | New |
| 19 | PRINCIPAL FINANCIAL GROUP INC | 243.8K | $29.6M | — | New |
| 20 | BNP PARIBAS FINANCIAL MARKETS | 240.4K | $29.2M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Operating income fell to $410M from $486M YTD despite 8.5% revenue growth—how much of the 9-month G&A jump to $208M from $93M is recurring versus one-time?
- 2
Funds held for clients dropped from $3.67B to $1.82B and interest revenue fell 11%—what's driving the float collapse and when does it stabilize?
- 3
You repurchased $263M in stock YTD versus $138M last year while cash declined—is this signaling slowing organic reinvestment opportunities amid intensifying Rippling/ADP competition?
Refreshed when PAYC files a new report · last from 2026-02-19